Monday, August 19, 2013

Do you want to live until you are 90?

When we first started meeting with a financial planner back in 2010 we talked about a number of things.  When she presented us with our "Investment and Wealth Strategies," folder one of the things she had said was that we will live until we are 90 and that is the age they use to prepare our forecast.

I was aghast to think I would live until I was 90.  Everyone I know that is in their 80's or 90's don't seem to be happy.  They are at best "surviving," waiting until it's their time to go.  Now don't get me wrong I would assume there are plenty of people out there that have happy and full filled lives at that age, but I don't know any of them.

The one woman I do know in her 90's is in a nursing home, nearly blind, nearly deaf, other wise as healthy as a horse.  She has no family, and sits there day and night.  She was saying to my mother the other day that she hasn't been out of the home in over a year. Now will say that is mostly her doing as my mam has asked her to go out on a number of occasions only to be met with excuses on why she can't.

Yes I agree people do live longer nowadays and as recently as last week we were sorting out our life insurances to make sure they DO NOT stop when we are 70, as we feel we will live to be older than 70, or at least hope we last longer than that.  However, I always figured, that as my grandmother's passed away in their 70's I would last about that long too.

Bit of a morbid subject for a Monday morning, sorry.


boopnut said...

My mom is 94 and in the nursing home. Though she does get out, I don't want to live that long either! She is losing her hearing, her sight, but not her marbles!

Jane and Chris said...

Got to invest in health as well as insurance!
Jane x

Terra said...

Everyone is different as they age, that is for sure. We have a family member who is 80, has Alzheimers and it seems she is no longer there, though her body remains. OTOH I visit a friend who is 91 and she lives in her own home and is pretty happy.

Paula said...

Did you know that you can get a payout from your insurance before you reach the limit? Colin's dad just found out he can get like $37K from his policy.

My great Auntie Ella (my Ella's namesake) was 97 years old and lived in a regular apartment building around Jane and Finch in Toronto. Wow, she was sharp as a tack. And would walk down the 9 flights of stairs during the usual brown outs in the summer. She would easily have made 100 if her building had of kept the ice clear. She fell and broke her hip and was gone in no time.

My grandma is 85 and lives at home too. Her second youngest son lives at home too which helps, but it's Grandma who rules the roost.

Whether you want to live to 90 or not, it's best to plan for it. You don't want the money running out just as you are needing it most.

Piece by Piece said...

My Mother had her 96th b-day last week, and lives in her own little house. Her only complaint "arther" in her left knee. She wears glasses, which she has worn most of her life and requires hearing aids.
Mind sharp as a tack.
I think as long as you can enjoy life with any major health issues....go for it.
I have a friend in her mid 70's, she has Alzheimer's and has been in a home for years. It's too upsetting to visit her any more, as she doesn't know anyone or anything....So sad.
Looking after oneself in the early years can have a positive affect later on in life.

angela said...

My grandmother was fine until 90 but then she had a fall and knocked her head which bought on dementia. She died at 95 having spent the last years of her life in a nursing home. I do not want to do that so I would rather go sooner and enjoy life till the end and not be a burden to anyone.

Rose said...

Not sure how I feel about living that long...sometimes not sure I am going to make it to 60! LOL